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ZEC $1,233 Bitcoin slips to $81,100 as inflation stokes rate-hike bets
BTC faces selling pressure as September CPI data pushes Fed rate expectations higher, triggering liquidations and ETF outflows.
Key takeaways
- Inflation pressure builds. September U.S. CPI rose 3.7% year over year, lifting Fed rate-hike odds briefly to 50% before settling at 30%.
- Liquidations spike. Bitcoin liquidated over $200 million in longs in a single 4-hour candle as price fell from just under $84,000 to $81,600.
- ETF outflows persist. U.S. spot Bitcoin ETFs recorded $150.5 million in outflows on October 14 amid market weakness.
What happened
Bitcoin tumbled to $81,100 on October 15, down 2.5% over 24 hours, as hotter-than-expected inflation data reignited concern over higher interest rates. The asset briefly slid toward $80,000 after September U.S. CPI rose 3.7% year over year, up from 3.4% in August, while core CPI accelerated to 2.6% from 2.4%.
The selling pressure triggered sharp liquidations. Bitcoin plummeted from just under $84,000 down to $81,600, liquidating over $200 million in long positions in a single 4-hour candle. The decline also weighed on spot Bitcoin ETFs, which recorded $150.5 million in outflows on October 14.
First $84.4KLatest $82K-2.9% over the period
Points are daily observations, not closing prices.
Why it matters
Higher inflation expectations raise the case for elevated interest rates, which tighten financial conditions and reduce the appeal of riskier assets. Odds of an October Fed hike briefly approached 50% before retreating to around 30%, signaling lingering rate uncertainty. Bitcoin now sits near the $81,000 support zone identified by analysts, with a break below that level potentially exposing the $78,000 level.
A sustained daily close above the $82,500 resistance would improve the asset's short-term structure, though this alone would not reverse the macro headwind from higher-for-longer rate expectations. Traders are watching whether support holds or if further deterioration unfolds as investors await additional inflation and labor data.
Questions readers ask
How much did Bitcoin fall in 24 hours?
Bitcoin fell 2.5% over 24 hours, declining from near $84,000 to $81,100 as of October 15.
What triggered the Bitcoin selloff?
September U.S. CPI rose 3.7% year over year, pushing Fed rate-hike odds briefly to 50%, which weighed on risk assets including Bitcoin.
What are Bitcoin's key price levels now?
Bitcoin support sits at $81,000, with a deeper support level at $78,000. Resistance is near $82,500. A close below $81,000 would weaken the setup significantly.
Did investors withdraw from Bitcoin ETFs?
Yes, U.S. spot Bitcoin ETFs recorded $150.5 million in outflows on October 14 amid the market weakness.
